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Search resuls for: "Chester Ntonifor"


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U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. "If you look at the percentage of currencies that have been down versus the dollar over the last 26 weeks, it was approaching 100%, and data also showed very long dollar positioning ... Traders are now pricing in only a slim chance of a further interest rate increase by the Fed and see three 25-basis-point rate cuts by next November. The euro fell 0.20% to $1.0695 after data showed a larger-than-expected fall in German industrial production in September. The yen softened to 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.
Persons: Dado Ruvic, Marc Chandler, Jerome Powell, Chester Ntonifor, Chandler, Powell, Christopher Waller, Michelle Bowman, Neel Kashkari, Austan Goolsbee, Fiona Cincotta, Karen Brettell, Alun John, Ankur Banerjee, Paul Simao, Mark Heinrich Our Organizations: REUTERS, U.S ., Australian, greenback, Fed, Bannockburn Global, BCA Research, Traders, . Minneapolis, Chicago Fed, PMI, Index, Reserve Bank of Australia, Thomson Locations: Tokyo, U.S, Bannockburn, New York, London, Singapore
U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. The dollar index which tracks the U.S. unit against six main peers, was up 0.37% at 105.64. If that continues, he added, attention will turn to how long to keep interest rates at current levels. The euro fell 0.37% to $1.0677 after data showed a larger-than-expected fall in German industrial production in September. The yen softened to 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.
Persons: Dado Ruvic, Jerome Powell, Marc Chandler, Chester Ntonifor, Chandler, Powell, Neel Kashkari, Austan Goolsbee, Fiona Cincotta, Carol Kong, Karen Brettell, Alun John, Ankur Banerjee, Paul Simao Organizations: REUTERS, U.S ., Australian, Fed, Bannockburn Global, BCA Research, Traders, Minneapolis, . Chicago Fed, PMI, Index, Reserve Bank of Australia, Commonwealth Bank of Australia, Thomson Locations: U.S, Bannockburn, New York, Tokyo, London, Singapore
Tuesday data showing a larger-than-expected fall in German industrial production in September contributed to the euro's weakness, said Fiona Cincotta, senior financial market analyst at City Index. The euro, like most other currencies, gained sharply on the dollar last week as a series of data points - most notably U.S. data from Friday showing job growth slowed in October - sent the U.S. unit lower. The dollar fell 1.4% last week, its steepest decline since mid-July, a sharp reversal after a recent run higher. Federal Reserve Bank of Minneapolis President Neel Kashkari said on Monday the U.S. central bank likely has more work ahead to control inflation. The yen softened to 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.
Persons: Dado Ruvic, Fiona Cincotta, Chester Ntonifor, Neel Kashkari, Jerome Powell, Carol Kong, Kong, Ankur Banerjee, Alun John, Sam Holmes, Miral Fahmy, Edmund Klamann, Kim Coghill, Emelia Organizations: REUTERS, Rights, PMI, Federal, Treasury, BCA Research, Fed, Federal Reserve Bank of Minneapolis, U.S, Bank, Australian, Commonwealth Bank of, Aussie, Thomson Locations: Rights SINGAPORE, LONDON, U.S, Australia, Tokyo, Singapore, London
Why is the US dollar so strong again?
  + stars: | 2023-05-18 | by ( Harry Robertson | ) www.reuters.com   time to read: +4 min
LONDON, May 18 (Reuters) - If investors agree on one thing this year, it's that the dollar is going to fall. The go-to explanation of currency strategists right now is the debt-ceiling debacle is boosting the dollar. Traders currently expect the U.S. central bank to cut interest rates sharply later this year as a recession takes hold, yet Tan is skeptical. If the dollar rises slightly, some traders may be forced to close out their short positions by buying the dollar, which then boosts its value. But a simple technical indicator is that it is very atypical for you to have a straight-line decline in the dollar."
Analysts expect the dollar to decline against 18 out of 38 currencies in the fourth quarter of this year, according to FactSet data. UBS UBS considers selling the dollar against G-10 currencies being a "top investment idea for 2023." According to the investment bank, years of negative interest rates have led to a sizeable un-hedged buildup of dollars worldwide. BCA Research Analysts at BCA Research say from a technical standpoint, the dollar is due for a reversal. Goldman Sachs The Wall Street bank remains bullish on the dollar over the next three months and sees certain G-10 currencies only recovering beyond the six-month horizon.
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